Harris posts higher net asset value

July 19, 2002 — Harris & Harris Group Inc., a New York publicly traded venture capital company that invests in MEMS, microsystems and nanotechnology, announced that, for the quarter ended June 30, 2002, its net asset value per share had increased from $2.63 to $2.68. Harris & Harris has 8,864,231 shares outstanding.

The company credits its holdings to an increase in the value of PHZ Capital Partners LP, of which it owns 20 percent. PHZ is a Cambridge, Mass., investment adviser that uses proprietary quantitative algorithms to manage client money in global financial futures, equities and other investments.

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